KOCHI: Steep fall in the price of rubber in international market may reflect in the Indian market too in the coming days, INFAM National secretary V C Sebastian has said.
“There is a possibility for fall in the price of rubber in the coming days with the government of Thailand deciding to sell out 3,10000 tonnes off rubber procured at cheap prize in the previous years. Another reason for prize fall in international market is resumption of tapping in major rubber producing regions,” he pointed out.
“The Government of Thailand taking advantage of the crash in rubber market since 2004 , had procured rubber at premium prize from farmers. Of this, 98000 tonnes of rubber was sold in the market recently.
Remaining stock of 2,12,000 tonnes can also be expected in the market soon. Fall of price from Rs 206 to Rs 169 in international market may be an impact of releasing of stock by Thailand. The impact can also be expected in domestic market too,” Sebastian said.
He urged the Rubber Board to withdraw the decision that helps price fall.
“Claims by Rubber Board that production in Kerala has increased is baseless. Tapping in Kerala is almost at a standstill due to climatic change and drought. It is just contradiction that Rubber Board highlight statistics of rubber export, while companies import rubber as sufficient stock is not available in the domestic market,” he added.